The amusements parks market comprises of sales of amusement park services and related goods by several and prominent entities (organizations, sole traders and partnerships) that function the amusement parks and theme parks. The businesses in the amusement parks industry function mechanical rides, water rides, games, shows, theme exhibits, picnic grounds, and amusement arcades which comprise the electronic game arcades, family fun centers, game rooms, indoor play areas, pinball arcades, and video game arcades. Revenues in this market comprise the entry fees and charges for precise rides.
According to the report analysis, ‘Amusement Parks Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that Disney Parks and Resorts; Merlin Entertainment; Universal Studios; Six Flags Entertainment; Oct parks China and many others are the major companies which presently functioning in amusement parks global market more effectively for leading the highest market growth and registering the handsome value of market share around the globe during the coming years while spreading the awareness connected to the applications of such, establishing the several research and development programs, employing the young and intellectual work force, developing the applications and specifications of such, analysing the strategies and policies of the government as well as corporates, implementing the policies of the enlargements and profit making, delivering the better consumer satisfaction and improving the qualitative and quantitative strategies.
In addition, the amusement parks are progressively utilizing virtual and augmented reality technology to provide an immersive experience to consumers. Virtual reality is a 3D, computer generated environment which can interrelate with a person, whereas augmented reality turns an environment into a digital interface by employing virtual objects in the real world. Amusement parks are accepting this technology in rides and theater-based magnetisms. For instance the Weave Breaker coaster carries the reality of jet skiing in the amusement park.
Moreover, Innovative rides, accommodation amenities, and merchandise in amusement parks are obtaining the popularity amongst visitors of all age groups. As a result, there is an augment in the number of adults and children staying amusement parks, thus enlarging the size of the target audience. Furthermore, the sale of merchandise and food & beverages through retail outlets and restaurants positioned inside the park are projected to be the foremost sources of ancillary revenue for amusement parks. Additionally, the effective growth in urban population, international tourism, and increasing disposable income of the middle-class populace are delivering an upthrust to the market around the globe.
Although, the great companies in the amusement parks market are significantly opting the strategies of enlargements such as amalgamation, partnership, new product development, joint venture, merger and acquisition and several other for obtaining the competitive edge and generating the high percentage of revenue during the short span of time. Therefore, in the near years, it is predicted that the market of amusement parks will increase around the globe more proficiently over the forthcoming duration along the growth in investment by the upcoming as well as prevailing investors and companies.
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Ankur Gupta, Head Marketing & Communications